Chip Starnes was finally let go by his Beijing workers after striking a compensation deal.

Photo: Reuters

Florida CEO Chip Starnes was finally freed on Thursday, after his Chinese employees held him for nearly a week at a factory just outside Beijing, reports AP.

Starnes told the AP that he struck a deal overnight that provided scores of workers with a severance package, similar to one given to recently laid-off workers from his firm, Specialty Medical Supplies.

Starnes and local labor official Chu Lixiang gave no details about the promised compensation. Chu said all the workers would be terminated, but Starnes said some would eventually be rehired.

“It has been resolved to each side’s satisfaction,” Chu told reporters at the factory.